Climeworks AG Closes Series B Financing Round

With air captured CO2 from Climeworks renewable energy can be efficiently stored by producing synthetic fuels using Power-to-Gas or Power-to-Liquids technology. These fuels produced from atmospheric CO2 are carbon-neutral and do not compete with food production for agricultural crop land. There is an ever increasing market demand for such fuels in the context of increasing the share of renewables in our energy mix.

In addition, short-term market applications with an annual market volume of CHF 300 million in Europe include CO2 supply for

• carbonation of drinks,

• fertilization of greenhouses, and

• packaging of fresh food.

Climeworks was founded end of 2009 and has since then developed its proprietary technology from laboratory to industrial scale. End of 2012 Climeworks announced the commissioning of its demonstration plant with a capacity of 1 ton CO2 per year which has since then proven successful continuous operation. Currently Climeworks is finalizing the construction of an industrial scale CO2 capture unit with a capacity of 50 tons CO2 per year. This unit represents the final scale-up step of Climeworks’ technology; commercial plants will be built from units of the same size in a modular way to meet the individual customer demands.

A very important application of Climeworks’ product is atmospheric CO2 supply for renewable fuel production in the mobility sector. The announcement of carmaker Audi about its collaboration with Climeworks on the road to CO2-neutral mobility was a highlight in early 2014.